National Bank of Canada FI trimmed its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,441 shares of the company's stock after selling 3,590 shares during the quarter. National Bank of Canada FI owned approximately 0.11% of Tenet Healthcare worth $12,679,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG increased its position in shares of Tenet Healthcare by 14.5% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 7,977 shares of the company's stock worth $1,007,000 after acquiring an additional 1,011 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after buying an additional 92 shares during the period. DnB Asset Management AS acquired a new position in Tenet Healthcare during the fourth quarter valued at $6,488,000. denkapparat Operations GmbH acquired a new stake in Tenet Healthcare during the 4th quarter worth about $291,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Tenet Healthcare by 9.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018 shares of the company's stock worth $1,769,000 after purchasing an additional 1,232 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday. They set a "buy" rating and a $165.00 target price for the company. Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average price target of $166.33.
Read Our Latest Research Report on THC
Tenet Healthcare Price Performance
Shares of NYSE:THC traded down $5.69 during midday trading on Thursday, reaching $125.38. The company's stock had a trading volume of 298,432 shares, compared to its average volume of 1,519,168. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The business's fifty day simple moving average is $130.52 and its 200-day simple moving average is $140.18. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market capitalization of $11.93 billion, a P/E ratio of 3.89, a P/E/G ratio of 1.02 and a beta of 1.77.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.93% of the company's stock.
Tenet Healthcare Company Profile
(
Free Report)
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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